TGS Baltic assisted Green Gateway Fund L.P. / Wermuth Asset Management GmbH with exit from Primekss Group, the producer of concrete floors for buildings, logistics centres, shopping malls, DIY stores and foundations of buildings, in which the fund had made a capital investment and provided financing in the amount of EUR 10 million in 2014.
Primekss Group received financing from Altum Kapitāla Fonds in the amount of EUR 8 million and financing from OP Bank for further growth in exports and ensuring of new, well-paid jobs.
TGS Baltic provided full spectrum of legal assistance to Green Gateway Fund L.P. / Wermuth Asset Management GmbH in relation to its exit from Primekss Group.
Between 2013 and 2016, Green Growth Fund 1 - Green Gateway Fund L.P. / Wermuth Asset Management GmbH invested EUR 5–30 million per company in growth capital in international best-in-class energy and resource efficiency companies in Western Europe. Primekss Group was one of the group of companies that received the Green Growth Fund 1 investment of EUR 10 million in 2014. The investment helped Primekss Group to develop its unique concrete technology and strategically improve and further expand its business in the new markets.
Primekss group has been operating in the field of industrial flooring for almost 25 years and is one of the world’s leading producers of industrial flooring. At the moment, Primekss exports its products to 25 countries around the world, employing more than 360 people, with the total scope of construction performed this year by the group to exceed EUR 70 million.
TGS Baltic partners Andra Rubene and Nauris Grigals, and associate Anna Vaivade advised on the deal.
More detailed information can be found here:
https://www.altum.lv/en/news/altum-kapitala-fonds-finanses-sia-primekss-grupas-izaugsmi
https://opbank.lv/en/blog/op-corporate-bank-plc-starts-working-with-primekss-group-becoming-its-main-bank/
http://www.baltic-course.com/eng/markets_and_companies/?doc=86712&ins_print
